Ithaca Energy (LON:ITH) Trading Up 9.3% – Still a Buy?

Ithaca Energy plc (LON:ITH)’s share price rose 9.3% during trading on Thursday . The stock traded as high as GBX 148.78 ($1.88) and last traded at GBX 143.40 ($1.81). Approximately 2,867,246 shares were traded during mid-day trading, an increase of 71% from the average daily volume of 1,677,731 shares. The stock had previously closed at GBX 131.20 ($1.66).

Ithaca Energy Stock Down 2.2 %

The firm’s 50-day simple moving average is GBX 124.41 and its 200 day simple moving average is GBX 115.46. The stock has a market capitalization of £2.92 billion and a P/E ratio of 16.01.

About Ithaca Energy

Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea with a strong track record of material value creation. In recent years, the Company has been focused on growing its portfolio of assets through both organic investment programmes and acquisitions and has seen a period of significant M&A driven growth centred upon two transformational acquisitions.